U.S. Senators Move To Investigate Mylan Pharmaceuticals Over EpiPen Price Gouging

[KamaAina]

http://bipartisanreport.com/2016/08/24/breaking-u-s-senators-move-to-investigate-mylan-pharmaceuticals-over-epipen-price-gouging/

People were rightfully outraged when Mylan Pharmaceuticals raised the price of EpiPens by more than 400 percent. The public outcry has caused Senate Democrats to take action.

Senator Charles Grassley of Iowa, who serves as the chairman of the Senate Judiciary Committee, wrote a letter to Mylan’s CEO, Heather Bresch, demanding an explanation for the price increase. The letter argued that the price increase made it difficult for the poor to gain access to EpiPens and that it was a burden on taxpayers as well, considering that many children gain access to EpiPens through Medicaid.
‘…in the case of EpiPens, I am concerned that the substantial price increase could limit access to a much-needed medication. In addition, it could create an unsafe situation for patients as people, untrained in medical procedures, are incentivized to make their own kits from raw materials.’

Connecticut Senator Richard Blumenthal also wrote a letter demanding that Mylan lower the price of EpiPens. In addition to the burden such price gouging places on families, both letters noted that it placed a burden on first responders and medical personnel. Blumenthal’s letter noted that many first responders are resorting to directly injecting epinephrine via syringes despite the fact that EpiPens are safer.
‘Due to the abundance of reports coming from consumers and first responders struggling with the high price of EpiPens, I am calling on you to immediately lower the price of your product to an affordable level that truly allows for expanded accessibility.’

However, one senator has moved beyond strongly worded letters. Amy Klobuchar is asking the Senate Judiciary Committee and the Federal Trade Commission to investigate Mylan’s price gouging.
‘Not only should the Judiciary Committee hold a hearing, the Federal Trade Commission should investigate these price increases immediately. The Commission should also report to Congress on why these outrageous price increases have become common and propose solutions that will better protect consumers within 90 days.’

Klobuchar’s recommendation that the FTC investigate Mylan is a good one, but it’s not the most important part of her statement. It’s her call for more regulation of the pharmaceutical industry.

Notably absent is Sen. Joe Manchin (DINO-WV) -- Bresch's daddy.

[uppityperson]

1. K&R. I remember reading about a safe, inexpensive factor 8 product that was bought up

by some huge company for the express purpose of sitting on it, leaving parents of hemophiliac kids with the choice of going into debt or letting their child become crippled quickly. Not to mention the HIV issue. This was back in late 70's and really hurt a lot of people for profit.

This is the same sort of crap.

[Initech]

2. Can we also demand an explanation for her ridiculous salary increase?